Weekly Flip Thru: Kim Kardashian Settles SEC Charges for Crypto Social Media Posts, Mastercard Tries to Make Buying Crypto Safer
Hey there, all you crypto cats and kittens! Before you get tangled up in other matters, get caught up on this week’s biggest crypto-related stories. Looks like reality star Kim Kardashian is in the headlines again — but for crypto social media posts this time. Other picks of the crypto litter include a partnership between a major payment processor and a data security firm that’s all about making crypto buying safer, and a giant asset management firm giving investors another way to gain exposure to crypto with a new index fund.
Read on for the biggest crypto news happening the week of October 10, 2022.
Kim Kardashian Settles $1.3 Million Charge from SEC Over Crypto Social Media Posts (CNBC)
Kim Kardashian, ever the trendsetter, made headlines yet again last week. This time, though, it had little to do with the exploits of the Kardashian clan, but a $1.26 million penalty levied by the Securities and Exchange Commission (SEC) that stirred the crypto conversation pot last week. The SEC charged Kardashian in relation to a post about the token EthereumMax (not to be confused with ETH) on her Instagram profile. The reality TV star turned billionaire entrepreneur failed to disclose to her 331 million followers that she received a $250,000 payment for the post, according to the charge by the SEC.
Mastercard Invests in Tools for Vetting Crypto Purchases (CoinDesk)
Is crypto another inch closer to mainstream adoption? Maybe. Payments giant Mastercard launched its new Crypto Secure product in partnership with CipherTrace, a blockchain data security firm. The new product purportedly allows credit card issuers to quickly judge whether their respective cardholders are making cryptocurrency transactions at trusted crypto exchanges and vendors. At the very least, the new product tips off the public that large players in the credit and payments space consider digital assets a space to watch as they develop ways to build trust among crypto investors.
Fidelity Expands Crypto Offerings for Investors with Ethereum Index Fund (CoinDesk)
Asset manager Fidelity Investments is offering an Ethereum Index Fund to investors. This news could be viewed as a large step up for mainstream interest in ether (ETH), which is currently the world’s second-largest cryptocurrency by market capitalization. The index fund’s launch also follows the years-in-the-making software upgrade known as “the Merge” that was driving a swell of positive news – perhaps one of the only bright spots during a prolonged crypto winter. The index fund has a minimum investment of $50,000.
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